Workers compensation laws were created to ensure that employees who are injured on the job are provided with fixed monetary awards. This eliminates the need for litigation and creates an easier process for the employee. It also helps control the financial risks for employers since many states limit the amount an injured employee can recover from an employer.
Workers Compensation Insurance is designed to help companies pay these benefits. As a protection for employees, most states require that employers carry some form of Workers Compensation Insurance. Workers Compensation Insurance is not health insurance. Workers Compensation is designed specifically for injuries sustained on the job.
In most states, if you have employees, you are required to carry Workers Compensation coverage. Even in non-mandatory states, it can be a very good idea, particularly if you have many employees, or if they are engaged in hazardous activities.
Do I need workers compensation insurance? Employers have a legal responsibility to their employees to make the workplace safe. However, accidents happen even when every reasonable safety measure has been taken.
To protect employers from lawsuits resulting from workplace accidents and to provide medical care and compensation for lost income to employees hurt in workplace accidents, in almost every state, businesses are required to buy workers compensation insurance. Workers compensation insurance covers workers injured on the job, whether they're hurt on the workplace premises or elsewhere, or in auto accidents while on business. It also covers work-related illnesses.
Workers compensation provides payments to injured workers, without regard to who was at fault in the accident, for time lost from work and for medical and rehabilitation services. It also provides death benefits to surviving spouses and dependents.
Each state has different laws governing the amount and duration of lost income benefits, the provision of medical and rehabilitation services and how the system is administered. For example, in most states there are regulations that cover whether the worker or employer can choose the doctor who treats the injuries and how disputes about benefits are resolved.
Workers compensation insurance must be bought as a separate policy. Although in-home business and business owners policies (BOPs) are sold as package policies, they don't include coverage for workers' injuries.
Why do you need insurance for your boat or personal watercraft? You'll enjoy the water even more when you're not worried about the safety of yourself, your passengers or your investment. Here are a few things to consider:
Here are a few things to consider as you prepare for the discussion:
The personal watercraft policy covers:
You should talk to your insurance representative about the type of coverage that would best suit your needs. A church is more than a building. It’s a community. A church is a worship center where people unite in a familiar, comfortable environment. Individuals seeking spiritual guidance join together to form a familial bond. It is your ministry’s duty to maintain a safe and welcoming facility. Should disaster strike, a church insurance policy can protect the community physically and emotionally in times of need.
What is a 401(k)?
A 401(k) is an employer-sponsored retirement savings plan. It allows employees to invest part of their paychecks before taxes are taken out. Taxes are paid when they withdraw the money from the account. Many employers offer matching programs as part of their employee benefits package.
401(k) plans started replacing pension funds in the 1980s when the cost to run them rose. Most 401(k)s have a spread of mutual funds made up of stocks, bonds and money market investments. Employees choose how their money is invested.
What are the benefits of a 401(k)?
As a business owner, it is in your best interest to attract potential employees to your company. Many people look for jobs that include healthcare as part of the benefits package. But, more people are learning the importance of starting to save for retirement at a younger age. So, 401(k) plans are growing in popularity.
By offering a 401(k) plan, you are telling your employees that you care about their future and personal assets. Help your staff get the most out of what you offer in your 401(k) plan. Tell them about details like investment options, how to make changes, and matching information.
Get started today!
Are you ready to add retirement savings to the list of benefits your business offers? Call us to learn more about setting up a program today.
What types of church insurance are available?
Like other kinds of insurance, there are a variety of options to choose from in regards to church insurance. Most plans include property and liability coverage.
Property coverage protects buildings, signage, fences and contents from damage and theft. Some of the non-standard items that are covered include, but are not limited to, the following:
Make the most of your church insurance.
In addition to your property and liability coverage, you can add a variety of optional coverages so your policy is customized to your church’s needs. These can include the following:
What is Directors & Officers Liability Insurance?
Directors and officers liability insurance covers a company’s directors and officers for claims made against them. Also known as Directors & Officers Liability Insurance, the policy protects against allegations of wrongful acts when acting as company executives. Wrongful acts may consist of misstatements, errors, breaches of duty and more.
Directors & Officers Liability Insurance is recommended for publicly traded companies with a corporate board or advisory committee. Many investors and board members may refuse involvement unless this protection is in place.
What are the benefits of Directors & Officers Liability Insurance?
Employees, stockholders and customers are able to make claims against a company and its directors. Whether grounded or frivolous, the resulting legal expenses and reputation damage can be extensive. Directors and officers can be held responsible for the acts of a company, which puts their personal assets at risk.
Directors & Officers Liability Insurance protects companies and their officers from criminal, civil and regulatory proceedings from allegations of wrongful acts.
Get started today!
Protect your company’s interests. Call us to learn more about the benefits of Directors & Officers Liability Insurance. We will discuss you needs and search for a policy that best matches your business’s needs.
What is errors and omissions insurance?Errors and omissions (E&O) insurance provides coverage for businesses or individuals for when they are held responsible for a service provided, or failure to provide a service, that did not have the expected results. For doctors, dentists, etc., it is called malpractice insurance. For professionals like lawyers, accountings or engineers, it may be called professional liability. Regardless of its name, E&O insurance covers any errors or omissions that either you have made or that the client perceives you have made.
The number of liability lawsuits against professionals has increased in recent years. Many professionals are at risk of being sued. Small companies can go bankrupt from the cost of lawsuits. Even large companies can experience an impact to their bottom line. An E&O policy covers legal fees and settlements in such scenarios, regardless of fault.
Who benefits from errors and omissions insurance?
If your business provides a service for a fee, you have an E&O exposure. Have you thought about what could happen if the service is done incorrectly or not performed in time? Even with quality employees and risk management practices in place, people still make mistakes. A general liability policy may not cover mistakes that could be made. Errors and omissions insurance will protect your business and its finances if such an event arises.
Get started today
There is not a standard E&O policy. We will evaluate your business to determine your specific exposures and help you get the coverage you need. If you think you might need an E&O insurance policy, give us a call. We are happy to assist you today.
Just like businesses protect their assets with insurance, nonprofits should do the same. Non-profit organizations are all unique in their operations. While some work to preserve wildlife, others care for the elderly. What if a sudden fire burned down your headquarters? What would happen to the people, animals or environments your nonprofit serves?
What are the benefits of nonprofit insurance?
Nonprofits often function on a tight budget. This makes getting insurance important as a large, unexpected expense can be detrimental. A good nonprofit insurance policy will have the right balance of price and coverage.
What types of insurance should a nonprofit get?
There are many types of insurance for nonprofits. Here are some common types of nonprofit insurance. Keep in mind this is a list of the different types. Because every nonprofit is different, we can help you determine which coverage best fits your needs.
Contact us for a customized evaluation of your nonprofit’s needs. We will search for the right coverage to fit your needs and budget so you can keep working to better the community.
Restaurant owners have much to consider when designing their insurance portfolios. Here are just a few of the insurance options restaurateurs can pick from to help minimize their financial risk from lawsuits, failed equipment and property losses.
Workers Compensation Insurance is designed to help companies pay these benefits. As a protection for employees, most states require that employers carry some form of Workers Compensation Insurance. Workers Compensation Insurance is not health insurance. Workers Compensation is designed specifically for injuries sustained on the job.
In most states, if you have employees, you are required to carry Workers Compensation coverage. Even in non-mandatory states, it can be a very good idea, particularly if you have many employees, or if they are engaged in hazardous activities.
Do I need workers compensation insurance? Employers have a legal responsibility to their employees to make the workplace safe. However, accidents happen even when every reasonable safety measure has been taken.
To protect employers from lawsuits resulting from workplace accidents and to provide medical care and compensation for lost income to employees hurt in workplace accidents, in almost every state, businesses are required to buy workers compensation insurance. Workers compensation insurance covers workers injured on the job, whether they're hurt on the workplace premises or elsewhere, or in auto accidents while on business. It also covers work-related illnesses.
Workers compensation provides payments to injured workers, without regard to who was at fault in the accident, for time lost from work and for medical and rehabilitation services. It also provides death benefits to surviving spouses and dependents.
Each state has different laws governing the amount and duration of lost income benefits, the provision of medical and rehabilitation services and how the system is administered. For example, in most states there are regulations that cover whether the worker or employer can choose the doctor who treats the injuries and how disputes about benefits are resolved.
Workers compensation insurance must be bought as a separate policy. Although in-home business and business owners policies (BOPs) are sold as package policies, they don't include coverage for workers' injuries.
Why do you need insurance for your boat or personal watercraft? You'll enjoy the water even more when you're not worried about the safety of yourself, your passengers or your investment. Here are a few things to consider:
- If you're in an accident or your watercraft is stolen, it costs money, often a lot of money, to fix or replace it.
- If you or any passengers are injured in an accident, medical costs can be extremely expensive.
- If your watercraft is responsible for damage or injury to others, you may be sued for much more than you're worth.
- Your watercraft also needs protection when it's on land. Accidents can happen while towing a watercraft.
Here are a few things to consider as you prepare for the discussion:
- How much can you afford to pay if your boat or personal watercraft is in an accident, damaged or stolen?
- Is my boat or watercraft covered for use year-round?
- What discounts and programs are available?
- How much medical insurance and liability coverage is enough?
- Do I have coverage if I need to have my boat towed in an emergency?
- What's the process for filing and settling a claim?
- Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
The personal watercraft policy covers:
- bodily injury
- property damage
- guest passenger liability
- medical payments
- theft
You should talk to your insurance representative about the type of coverage that would best suit your needs. A church is more than a building. It’s a community. A church is a worship center where people unite in a familiar, comfortable environment. Individuals seeking spiritual guidance join together to form a familial bond. It is your ministry’s duty to maintain a safe and welcoming facility. Should disaster strike, a church insurance policy can protect the community physically and emotionally in times of need.
What is a 401(k)?
A 401(k) is an employer-sponsored retirement savings plan. It allows employees to invest part of their paychecks before taxes are taken out. Taxes are paid when they withdraw the money from the account. Many employers offer matching programs as part of their employee benefits package.
401(k) plans started replacing pension funds in the 1980s when the cost to run them rose. Most 401(k)s have a spread of mutual funds made up of stocks, bonds and money market investments. Employees choose how their money is invested.
What are the benefits of a 401(k)?
As a business owner, it is in your best interest to attract potential employees to your company. Many people look for jobs that include healthcare as part of the benefits package. But, more people are learning the importance of starting to save for retirement at a younger age. So, 401(k) plans are growing in popularity.
By offering a 401(k) plan, you are telling your employees that you care about their future and personal assets. Help your staff get the most out of what you offer in your 401(k) plan. Tell them about details like investment options, how to make changes, and matching information.
Get started today!
Are you ready to add retirement savings to the list of benefits your business offers? Call us to learn more about setting up a program today.
What types of church insurance are available?
Like other kinds of insurance, there are a variety of options to choose from in regards to church insurance. Most plans include property and liability coverage.
Property coverage protects buildings, signage, fences and contents from damage and theft. Some of the non-standard items that are covered include, but are not limited to, the following:
- Stained glass windows
- Equipment failure, including electronics
- Fire and security alarm upgrades
- Personal property loss worldwide, e.g., items lost on a mission trip
- Personal injury liability
- Teacher/governing board liability
- Specialized emotional injury liability
- Sexual misconduct liability
- Directors, officers and trustees officers liability
- Employee practices liability
Make the most of your church insurance.
In addition to your property and liability coverage, you can add a variety of optional coverages so your policy is customized to your church’s needs. These can include the following:
- Lost wage coverage
- Key person replacement coverage
- Computer fraud coverage
- Flood coverage
What is Directors & Officers Liability Insurance?
Directors and officers liability insurance covers a company’s directors and officers for claims made against them. Also known as Directors & Officers Liability Insurance, the policy protects against allegations of wrongful acts when acting as company executives. Wrongful acts may consist of misstatements, errors, breaches of duty and more.
Directors & Officers Liability Insurance is recommended for publicly traded companies with a corporate board or advisory committee. Many investors and board members may refuse involvement unless this protection is in place.
What are the benefits of Directors & Officers Liability Insurance?
Employees, stockholders and customers are able to make claims against a company and its directors. Whether grounded or frivolous, the resulting legal expenses and reputation damage can be extensive. Directors and officers can be held responsible for the acts of a company, which puts their personal assets at risk.
Directors & Officers Liability Insurance protects companies and their officers from criminal, civil and regulatory proceedings from allegations of wrongful acts.
Get started today!
Protect your company’s interests. Call us to learn more about the benefits of Directors & Officers Liability Insurance. We will discuss you needs and search for a policy that best matches your business’s needs.
What is errors and omissions insurance?Errors and omissions (E&O) insurance provides coverage for businesses or individuals for when they are held responsible for a service provided, or failure to provide a service, that did not have the expected results. For doctors, dentists, etc., it is called malpractice insurance. For professionals like lawyers, accountings or engineers, it may be called professional liability. Regardless of its name, E&O insurance covers any errors or omissions that either you have made or that the client perceives you have made.
The number of liability lawsuits against professionals has increased in recent years. Many professionals are at risk of being sued. Small companies can go bankrupt from the cost of lawsuits. Even large companies can experience an impact to their bottom line. An E&O policy covers legal fees and settlements in such scenarios, regardless of fault.
Who benefits from errors and omissions insurance?
If your business provides a service for a fee, you have an E&O exposure. Have you thought about what could happen if the service is done incorrectly or not performed in time? Even with quality employees and risk management practices in place, people still make mistakes. A general liability policy may not cover mistakes that could be made. Errors and omissions insurance will protect your business and its finances if such an event arises.
Get started today
There is not a standard E&O policy. We will evaluate your business to determine your specific exposures and help you get the coverage you need. If you think you might need an E&O insurance policy, give us a call. We are happy to assist you today.
Just like businesses protect their assets with insurance, nonprofits should do the same. Non-profit organizations are all unique in their operations. While some work to preserve wildlife, others care for the elderly. What if a sudden fire burned down your headquarters? What would happen to the people, animals or environments your nonprofit serves?
What are the benefits of nonprofit insurance?
Nonprofits often function on a tight budget. This makes getting insurance important as a large, unexpected expense can be detrimental. A good nonprofit insurance policy will have the right balance of price and coverage.
What types of insurance should a nonprofit get?
There are many types of insurance for nonprofits. Here are some common types of nonprofit insurance. Keep in mind this is a list of the different types. Because every nonprofit is different, we can help you determine which coverage best fits your needs.
- General liability insurance protects against injury and property damage to third parties. This can include visitors, customers, suppliers or associates. Employees are often covered separately by worker’s compensation.
- Property insurance protects your assets in the event of a fire, disaster or vandalism. These assets can include the building, fixtures, equipment, machinery, furniture, computers, inventory and supplies.
- Auto insurance covers injuries from an accident involving your staff or volunteers using any car, including their own, for nonprofit activities.
- Product liability insurance protects your nonprofit in the event of a lawsuit claiming your product is unsafe or defective.
- Directors and officers insurance protects the members of your board of directors and your officers in the event of a lawsuit alleging fraud or financial mismanagement.
- Professional liability insurance protects against claims of mismanagement and workplace incidents like discrimination or sexual harassment.
- Workers’ compensation compensates employees for medical expenses and lost wages after an on-the-job injury.
Contact us for a customized evaluation of your nonprofit’s needs. We will search for the right coverage to fit your needs and budget so you can keep working to better the community.
Restaurant owners have much to consider when designing their insurance portfolios. Here are just a few of the insurance options restaurateurs can pick from to help minimize their financial risk from lawsuits, failed equipment and property losses.
- Property insurance: Offers financial protection in the event that the restaurant’s property (either its building structure or contents) is ruined or damaged in an insurable event such as a fire or theft.
- Spoilage coverage: Provides payment if power is lost or equipment malfunctions and the perishable food on hand spoils.
- Employment practices liability: Protects against lawsuits for various employee complaints including discrimination, provided the treatment was not willful.
- Equipment breakdown: Covers the cost of repair for equipment that has broken down including cookers, refrigerators and air conditioning units. It's worthwhile to note that if the breakdown occurs due to lack of proper maintenance, the claim may not be covered.
- Workers compensation insurance: This pays for medical expenses and some lost wages should an employee be injured on the job.
- Business continuation insurance: Provides ongoing income in the event that your business is forced to shut down. Alternatively, it could pay for some of the expenses of temporary relocation of your restaurant.
- Liquor legal liability insurance: This can help pay legal expenses and claims brought on by customers who may be injured by an individual who was drinking in your establishment.